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HZM Horizonte Minerals Plc

1.50
-2.25 (-60.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Horizonte Minerals Plc LSE:HZM London Ordinary Share GB00BMXLQJ47 ORD 20P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -2.25 -60.00% 1.50 1.25 1.75 4.25 1.375 3.75 14,494,776 16:29:04
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Gold Ores 0 -5.32M -0.0197 -0.76 4.05M
Horizonte Minerals Plc is listed in the Gold Ores sector of the London Stock Exchange with ticker HZM. The last closing price for Horizonte Minerals was 3.75p. Over the last year, Horizonte Minerals shares have traded in a share price range of 1.375p to 172.00p.

Horizonte Minerals currently has 269,778,906 shares in issue. The market capitalisation of Horizonte Minerals is £4.05 million. Horizonte Minerals has a price to earnings ratio (PE ratio) of -0.76.

Horizonte Minerals Share Discussion Threads

Showing 18526 to 18549 of 24975 messages
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DateSubjectAuthorDiscuss
19/2/2021
11:27
"Significant interest" but still a big haircut to prevailing share price. Slightly odd.
nigelpm
19/2/2021
11:25
On a positive as an accelerated bookbuild something must be in the offing, otherwise better off just having placing?
harrisun
19/2/2021
11:24
Jeremy Martin, CEO of Horizonte Minerals, provides an update following the successful completion of the Placing as part of the Fundraise announced yesterday.
soundbuy
19/2/2021
11:08
ridicule. There is no rule that I know that supports your comment about announcing a book build in advance.

Wooster: Why then if it was imminent, with successful book build just hours later!

Deleted to keep the bb polite as I'm sure it will recover.

What is interesting is an accelerated book build is often one of two reasons: desperation or asset acquisition.

I have been involved in several placings, including book builds, and the intention to raise via a placing always affects the SP, but the intention to raise via book build then being notified less than 24 hours after its concluded means there was no point in the first RNS especially if notified after hours. The company could have easily have announced it had raised x via a book build and still complied with disclosure rules.

I posted rule 26 which shows there is no provision there, or in 17.

A difference of opinion, but where the rules are posted

harrisun
19/2/2021
11:01
Correct Wooster4, for the reasons I outlined above. The other important point for investors to remember is that the whole project model is based on a Nickel price around $14,000 per ton from memory, so we are in a very good place. The number of shares in issue is high, but this can be rectified once production starts, through share buybacks. There are no more major equity dilution events in prospect given the further funding is targeting: senior debt; cornerstone investor money and offtake partner funding.

This fundraiser has underpinned all future cash sources on a de risked basis and maintained engineering momentum to beat the rainy season.

ridicule
19/2/2021
10:48
With regard to the announcement of the placing. It is worth noting that it was structured as an accelerated bookbuild - these, to my best knowledge, are always announced in advance.
wooster4
19/2/2021
10:46
Thats a very good interview.The pot is coming nicely to the boil.
steeplejack
19/2/2021
10:39
Harrisun. Aim rules demand a rapid book build is pronounced. The Aim world is not solely for PIs, other institutions needed to know what was going on so they could participate if they wanted to.. This is a very timely and strategic move I proudly in another 4K at 8.4p, recognising I had to pay nearly penny more because I don’t have the financial muscle to raise the sort of money that’s just been raised in the last 24 hours. That’s the way the world is! The only way we could reasonably have been involved is via primary bid. It is worth asking the CEO why he did not take this route In conjunction with the rapid book build.
ridicule
19/2/2021
10:28
There is NO requirement under AIM 26 that says you have to announce the POTENTIAL for a placing. Otherwise if it was a rule EVERY placing would have to be announced prior and as you know that is not the case.

Company information disclosure
26. Each AIM company must from admission maintain a website on which the following
information should be available, free of charge:
— a description of its business and, where it is an investing company, its investing
policy and details of any investment manager and/or key personnel;
— its country of incorporation and main country of operation;
— its current constitutional documents (e.g. its articles of association);
11
— details of any other exchanges or trading platforms on which the AIM company has applied or agreed to have any of its securities (including its AIM securities) admitted or traded;
— the number of AIM securities in issue (noting any held as treasury shares) and, insofar as it is aware, the percentage of AIM securities that is not in public hands together with the identity and percentage holdings of its significant shareholders. This information should be updated at least every 6 months and the website should include the date on which this information was last updated;
— details of any restrictions on the transfer of its AIM securities;
— the annual accounts published pursuant to rule 19 for the last three years or since admission, whichever is the lesser, and all half-yearly, quarterly or similar reports published since the last annual accounts pursuant to rule 18, and from 3 January 2018 the annual accounts published (on or after that date) pursuant to rule 19 and all half-yearly, quarterly or similar reports published (on or after that date) pursuant to rule 18 must be posted and maintained on its website for a period of at least five years;
— all notifications the AIM company has made in the past 12 months. An AIM company must also post and maintain on its website for a period of at least five years all inside information it is required to disclose publically by MAR on or after 3 January 2018;
— its most recent admission document together with any circulars or similar publications sent to shareholders within the past 12 months and for a period of at least five years any Prospectus it has published on or after 3 January 2018;
— details of a recognised corporate governance code that the board of directors of the AIM company has decided to apply, how the AIM company complies with that code, and where it departs from its chosen corporate governance code an
2
explanation of the reasons for doing so . This information should be reviewed
annually and the website should include the date on which this information was last reviewed;
— the names of its directors and brief biographical details of each, as would normally be included in an admission document;
— a description of the responsibilities of the members of the board of directors and details of any committees of the board of directors and their responsibilities;
— where the AIM company is not incorporated in the UK, a statement that the rights of shareholders may be different from the rights of shareholders in a UK incorporated company;
— whether the AIM company is subject to the UK City Code on Takeovers and Mergers, or any other such legislation or code in its country of incorporation or operation, or any other similar provisions it has voluntarily adopted; and
— details of its nominated adviser and other key advisers (as might normally be found in an admission document).

harrisun
19/2/2021
10:24
#harrisun, you will probably find AIM 26 regulations around disclosures take precedence over PIs wishes.. :o)

A follow up RNS has now been done, pre and post events both reported out of hours, and we are moving forward..

laurence llewelyn binliner
19/2/2021
10:21
Unless you’re cynical and say the drop also allowed the institutional investors who didn’t get their quota to top up on the dip.

Whatever, onwards and upwards.

uapatel
19/2/2021
10:16
Even at 7.5p placing it was not so much the discounting as the notifying the market AFTER trading ceased of a potential placing at 7.5p. This was bound to drop the share price

Had they announced just the successful placing today at 7.5p, then in my opinion would have been less damaging to the share price

There was no good reason to notify of a potential placing, especially within 24 hours of what is described as a successful book build.

Of course it was successful paying 75-80p for a pound, but in my opinion the problem was notifying it prior to it being actually placed.

No reason at all to do that and it was bound to cause a significant drop back when markets opened.

harrisun
19/2/2021
10:05
15day VWAP is more normal but you're right maybe the volatility of the share prompted the brokers to opt for a longer period .The subsequent price reaction suggests that 7.5p is a steal.Benefit of hindsight is a marvellous thing.
steeplejack
19/2/2021
10:00
#steeplejack, sure, using a 15 day VWAP of 9.15p then that does appear to be discounted at 7.5p, but we do not know the fix price terms do we, the company could be in front of potential subscribers wanting to see a 30 or 60 day average to isolate it from any peaks..

Either way, the impact has been positive and we can get started on the mine build sooner with ordering long lead time equipment now.. :o)

laurence llewelyn binliner
19/2/2021
09:44
Of course placings are not pegged to the price the day before but they are usually pegged to the 15 day VWAP ,try working out the 15 day and see what result you get.The15 day average is around 8.8p meaning the placing was done at a discount of around 15% which is pretty high,more like an old fashioned rights issue.This placing could probably been done at around 8p but its history now.
steeplejack
19/2/2021
09:39
Using the 60 day VWAP there was no discount for the equity, we do not know the terms for the price fix, and it now looks very close to the 60 day average at 7.6p..

Equity raises are not pegged to the spot price the day before.. :o)

laurence llewelyn binliner
19/2/2021
09:33
https://www.proactiveinvestors.co.uk/companies/news/941780/horizonte-minerals-raises-18mln-to-fast-track-araguaia-ahead-of-project-financing-941780.html
steeplejack
19/2/2021
09:30
Security is key IMO, if they have had to take a bigger discount to get the fundraise away then so be it. I've bought more anyway as think this is in a good place, not far off production / cash flows and in the right area....18 month view we will be laughing at 7.5p I hope!

DYOR and good weekends
Cheers
QS99

qs99
19/2/2021
09:22
The placing,near a 1 for 6,wasn't what most were hoping to hear.News of offtake agreements would have been more readily welcomed than a discounted placing of well over 20% to the share price over the last week.Makes you wonder whether the brokers haven't managed to massage the price up ahead of this fund raising.Anyway,its done and i suppose that 7.5p becomes the long stop support,i would have thought a placing at around 8p was perfectly achievable but the stock is pretty volatile.The placees have got a freebie here and time constraints and expense mean existing private client holders have been 'circumvented' as usual.Nothings really changed other than we've had a fund raise at what i consider is a disappointingly low price.
steeplejack
19/2/2021
09:13
25mil shares traded in the first hour!
twigs3
19/2/2021
09:02
gilotron
Even with my criticism if the price drops back to at or near placing it should not stop shareholders making a profit, although I'm of the view also that this company will be taken over before too long.

It does though diminish the potential returns over and above the dilutive effect of a placing as obviously the dip in the share price has to be recovered first.

harrisun
19/2/2021
08:56
Yes nothing like timing the market is there! Think this will recover though GL
cashstrapped
19/2/2021
08:39
Classic. I just bought in yesterday after dithering. Oh well at least I only bought a few
gilotron
19/2/2021
08:37
The announcement today demonstrates perfectly that there was absolutely no need to announce yesterday of a proposed placing. All it did was damage the share price to make the discount look more realistic based on a reduced share price

Shocking move that must have been anticipated

Of course companies use placings, that's of necessity, but how they are effected demonstrates either good procedure or bad. I leave the share price to suggest today what that was.

harrisun
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